Common use of Deposit of Stock Certificates Clause in Contracts

Deposit of Stock Certificates. Concurrently with signing this Agreement (i) Company shall direct its transfer agent to issue one stock certificate for the Restricted Shares, representing 4,000 shares of common stock of the Company, $1.00 par value, registered in the name of the Grantee, and (ii) Grantee shall execute and deliver to Company to be held by Company, with the stock certificate for the Restricted Shares, a stock power for the Restricted Shares. After the prohibited sale and transfer restrictions lapse under Paragraph 2 above with respect to the Restricted Shares and provided the Restricted Shares have not been forfeited under Paragraph 3 above, Company shall deliver to the Grantee, or such person or persons as the Grantee may direct in writing, the stock certificate, and the stock power representing the Restricted Shares as to which the prohibited sale or transfer restrictions have lapsed less any shares withheld, pursuant to Grantee's election and the Committee's approval, to satisfy applicable income tax withholding requirements. The shares represented by such stock certificate after delivery shall cease to be Restricted shares.

Deposit of Stock Certificates. Concurrently with signing this Agreement (i) Company shall direct its transfer agent to issue one stock certificate for the Restricted Shares, representing 4,000 5,300 shares of common stock of the Company, $1.00 par value, registered in the name of the Grantee, and (ii) Grantee shall execute and deliver to Company to be held by Company, with the stock certificate for the Restricted Shares, a stock power for the Restricted Shares. After the prohibited sale and transfer restrictions lapse under Paragraph 2 above with respect to the Restricted Shares and provided the Restricted Shares have not been forfeited under Paragraph 3 above, Company shall deliver to the Grantee, or such person or persons as the Grantee may direct in writing, the stock certificate, and the stock power representing the Restricted Shares as to which the prohibited sale or transfer restrictions have lapsed less any shares withheld, pursuant to Grantee's election and the Committee's approval, to satisfy applicable income tax withholding requirements. The shares represented by such stock certificate after delivery shall cease to be Restricted shares.

Deposit of Stock Certificates. Concurrently with signing this Agreement (i) Company shall direct its transfer agent to issue one stock certificate for the Restricted Shares, representing 4,000 26,000 shares of common stock of the Company, $1.00 par value, registered in the name of the Grantee, and (ii) Grantee shall execute and deliver to Company to be held by Company, with the stock certificate for the Restricted Shares, a stock power for the Restricted Shares. After the prohibited sale and transfer restrictions lapse under Paragraph 2 above with respect to the Restricted Shares and provided the Restricted Shares have not been forfeited under Paragraph 3 above, Company shall deliver to the Grantee, or such person or persons as the Grantee may direct in writing, the stock certificate, and the stock power representing the Restricted Shares as to which the prohibited sale or transfer restrictions have lapsed less any shares withheld, pursuant to Grantee's election and the Committee's approval, to satisfy applicable income tax withholding requirements. The shares represented by such stock certificate after delivery shall cease to be Restricted shares.